I never thought I would see the day that Buffett would retire while still being in good health. An amazing run as a CEO especially for those fortunate to have owned shares from the early days after he took over Berkshire Hathaway.

I would assume Bufffet will still hold court for it as long as he can but once he isn't there, I bet the numbers will quickly drop. Greg Abel doesn't exactly make for must see commentary.

Death, taxes, and BRK. Joined the party late, about ten years ago with a couple of rollover pensions and got out after Munger passed.

What an amazing run.

I only got out of BRK due to handing over IRA control to a financial person, not because Munger passed.

Kansas Kid said:

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I never thought I would see the day that Buffett would retire while still being in good health. An amazing run as a CEO especially for those fortunate to have owned shares from the early days after he took over Berkshire Hathaway.

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Good health is subjective. Outwardly, Buffett is a fraction of his former self. I kind of doubt he makes it to the end of the year.

I'm a BRK fan and I think Abel & Co. will be better than Buffett and Munger.

I also once built a company, albeit much smaller in market cap than BRK, and was fortunate enough to hire people that were better at my job than I was. Buffett has met many people over his career, and I bet he's had a similar experience.

Edit: I'm not predicting Abel will be a bigger or better personality than Buffett, just that he may be even better at allocating capital.

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I only got out of BRK due to handing over IRA control to a financial person, not because Munger passed.

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May I ask why the professional got you out of BRK?

It's interesting how Buffett built up such a massive cash hoard before handing over the reins. I wonder if he wanted to give Abel a little bit of a honeymoon period where whatever happens, he won't need to make any desperate moves.

Or, I wonder if Warren thought his retirement or other departure might lead to a big drop in the share price, and this way Abel has a big war chest to buyback shares if needed/wanted.

ToddyHill said:

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Quote:

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I only got out of BRK due to handing over IRA control to a financial person, not because Munger passed.

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May I ask why the professional got you out of BRK?

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Not who you quoted but mine was a ducking idiot and an Aggie. That mfer cost me hundreds of thousands of dollars.

In one IRA I had everything in Apple and BRK-B. That was wildly successful, but more risky than wanted/needed going into retirement.

Hoyt Ag said:

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ToddyHill said:

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Quote:

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I only got out of BRK due to handing over IRA control to a financial person, not because Munger passed.

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May I ask why the professional got you out of BRK?

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Not who you quoted but mine was a ducking idiot and an Aggie. That mfer cost me hundreds of thousands of dollars.

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Wow that sucks…. I'm with Edward Jones for some of my money and we bought it this morning on the dip for my Roth IRA…. Was it not allowed at the time?

chris1515 said:

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It's interesting how Buffett built up such a massive cash hoard before handing over the reins. I wonder if he wanted to give Abel a little bit of a honeymoon period where whatever happens, he won't need to make any desperate moves.

Or, I wonder if Warren thought his retirement or other departure might lead to a big drop in the share price, and this way Abel has a big war chest to buyback shares if needed/wanted.

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I just think he's a "buy straw hats in winter" guy. If the stuff really hits the fan, the company will be in fabulous shape to get something valuable at a dirt cheap price.

I posted in another thread too, but the operating earnings of the company seem to be getting glossed over. Not a terrific quarter my any means. I think the news that WB dropped is overshadowing the earnings.

aggiebrad16 said:

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I posted in another thread too, but the operating earnings of the company seem to be getting glossed over. Not a terrific quarter my any means. I think the news that WB dropped is overshadowing the earnings.

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I'm surprised the stock is down only 4-5% on the news. I always thought Buffett dying/stepping down would be 10% drop. Add in a weaker than expected operating earnings and I definitely expected at least 10%. I wonder if Berkshire is buying some stock back with a bit of their cash hoard.

So who is the next investing guru after WB?

infinity ag said:

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So who is the next investing guru after WB?

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Nancy Pelosi

dmperch said:

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infinity ag said:

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So who is the next investing guru after WB?

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Nancy Pelosi

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ha ha good one. Auntie Nancy must start a newsletter.

Saylor and Mallers.